PRECIOUS-Gold slips on U.S. aid doubts, stronger dollar

(Updates prices)
* Dollar picks up after four sessions of losses
* Goldman Sachs forecasts gold at $2,300/oz over 12-month
horizon
* Interactive graphic tracking global spread of coronavirus:
open
https://tmsnrt.rs/3aIRuz7 in an external browser

By Asha Sistla
Oct 22 (Reuters) - Gold prices slipped on Thursday as market
hopes for a U.S. coronavirus aid package ahead of the
presidential elections waned, in turn bolstering the dollar.
Spot gold XAU= fell 0.5% to $1,914.91 per ounce by 1145
GMT, after hitting more than a one-week high on Wednesday. U.S.
gold futures GCcv1 slipped 0.6% to $1,917.60.
Gold is tracking a gyrating dollar, with investors watching
"whether a fiscal stimulus plan will be agreed before the
election or will have to now wait because of the lack of time,
until the next president has been voted in," said Robin Bhar, an
independent analyst.
Prices are likely to trade sideways "until we know who the
next president is," but could break above the $1,950 level post
the elections, Bhar added.
Widely viewed as a hedge against inflation and currency
debasement, bullion has gained 26% this year as central banks
and governments globally unleash unprecedented stimulus measures
to cushion the economic fallout from the pandemic.
Stimulus talks between U.S. lawmakers faced a setback on
Wednesday when President Donald Trump accused Democrats of being
unwilling to craft a compromise on aid. The news dented risk sentiment and lifted the dollar .DXY
against its rivals, making gold more expensive for holders of
other currencies. USD/
Investors now await the final U.S. presidential debate
between Trump and Democrat rival Joe Biden on Thursday night
ahead of the Nov. 3 election, and also weekly jobless claims at
1230 GMT.
Wall Street bank Goldman Sachs forecast gold at $2,300 an
ounce over a 12-month horizon and said commodities were likely
headed for a bull market next year. Elsewhere, silver XAG= fell 0.9% to $24.84 per ounce,
platinum XPT= eased 0.4% to $883.13 and palladium XPD=
dropped 0.6% to $2,390.24.